I have found a property I really want to buy again. I really should stay off the real estate websites, but I just can’t. I’m like an addict with them. I’m on there every day, even though I am not really in a position to purchase.
Although, if I can come up with $52000 (yep, I’ll just pull it out of my butt!) I can get this property I like.
I have been tossing up different scenarios as to how I could do this, but really don’t see how I could. I can “borrow” from someone, as long as the banks think it is a gift, not a loan, but who? I could go in partnership with someone, but again who? (Other than my husband who doesn’t have enough for a deposit either, or I would not worried about this at all!)
I have been wondering how much I could come up with in a 6 week settlement period and it doesn’t look like much!
It might seem weird that I would really like this property, but based on current figures and the purchase price, it would not cost us anything except the land rates and house insurance. It is a property I could see myself living in quite happily later. It looks ideal. And to find a property here that virtually pays for itself, well I have never seen one without a MASSIVE deposit.
I could start work tomorrow, doing a 4 days a fortnight and earn $800 a fortnight. This would be a start, but in 6 weeks, it would only amount to $2400.
I have $1500 in the bank. I am booked into markets on Saturdays. I have been doing friends and family hair, which gives me a bit. I’ve sold off pretty much everything I can think of, other than things in our house in Sydney.
In Sydney we have a kitchen, my husbands work bench, a piano and more. Those would if we are lucky get us $1,000. The kitchen has stainless steel appliances and a sink, as well as the cupboards, bench etc... and it is not terribly old. We just never got around to putting it in our house.
So I have quickly come up with almost $5000, without including any hair etc... I will do.
If I sold off everything I own that I am not currently using I could get more, but then I think, what if I want to use that stuff later? I get so frustrated with all our “stuff, that it might not be a bad idea to just clean it all out and IF (really BIG IF) I decide later I would really like that stuff back, I can buy it then.
One of my friends has been considering a garage sale, and I could go in with her for that, selling things, since eBay seems really slow. Considering I have been so frustrated with all the stuff we have, this may not be a bad idea.
I need to set up my madeit store, then hopefully I would sell a few things online.
Maybe I should just clean up some of the things my husband has NEVER used and probably wont ever used and sell them.
I have not really been doing Tupperware and have a new manager, so I could contact her and maybe do a few parties?
If I started catalogues this week I could get maybe $300. Although it is a lot of time involved for very little reward in my opinion.
It’s formal and party time, so if I out the word out I am positive I could earn a fair bit doing hair and make-up between now and then.
If I went with the straightening system I have been not so keen on doing for I do not know what reason, other than instinct, I could certainly earn a bit.
Hmm, my husband is not here at the moment, but once he gets home, we certainly need to talk.
Sunday, November 29, 2009
Saturday, November 28, 2009
Budgetting
I was truly shocked last night when I was helping a friend with her budget. She has been letting $300+ a fortnight fritter away into oblivion with nothing to show for it. Doing a budget is not hard. Sticking to one can be harder, but when you realise that if that money was saved every fortnight, in 1 year it would be $7800. That is a lot of money to be wasting.
The amount of $300 was found without even cutting back on things. If she menu planned, wrote a grocery list and stuck to it, stopped using the dryer and a few other things, she could easily save $500 a fortnight.
It really amazed me how much money people waste without even realising. As a sahm I believe it is my responsibility to try and save money where we can. I am not using it in my challenge, but it does add up. The biggest thing when saving money in one area, say groceries is to actually put that money into savings, not blow it on something else.
A budget can be as hard or easy as you like. Fortunately for me I do not have school age kids, which means things are a lot cheaper for me.
All you really need to do is write out your expenses and your income. Gather all your bills, receipts etc... to see where your money is going. Things that might be listed are
Rent/Mortgage, electricity, gas, petrol, groceries, car maintenance, registration and insurance, house insurance, mobile phone, home phone, internet, presents, school fees, land rates, water bill, make-up/hair products, education (school fees, books etc...), clothing, allowances, medical, misc...
You will need to account for everything, including savings. The only way to get ahead with money is to pay yourself first, then budget with what is left. Most people advise you to save at least 10% of your wage.
With your bills, work out what is quarterly, monthly etc... times everything to make it yearly. E.g monthly phone bill, times by 12, to get an idea of what it costs you a year.
Do this with all your expenses. Next, divide them by your pay days, whether weekly, fortnightly or monthly. This will give you a good idea of how much things cost you each pay. You should be able to see if you are in credit or debt every pay.
If you are in debt every pay, there is something wrong and you need to look at where you can cut back to ensure you are not spending more than you are earning.
If you have any debts, these will need to be listed. Once they are paid, don’t waste the money you were using to pay them off, instead save it.
Be reasonable when doing a budget. Don’t try to save every single cent, as it just wont work. Allow some money for yourself every pay, to spend on whatever you like. This helps you to not feel deprived and you can still get your “luxuries”.
The hardest thing about any budget is sticking to it. One way some people use to help them stick to it is a money tree. It is an envelope system where for each thing in the budget an envelope is allocated. For example, $200 for groceries is placed in the groceries envelope. Once the money is gone, it’s gone. No using the card. You have to make do with the money you have. Leave the cards at home.
Another alternative is a similar idea but with separate accounts. Some banks allow you to have a few accounts without incurring extra fees. Some people label these accounts “bills”, “school fee’s” etc... So each pay an allocated amount is transferred to cover these expenses, ensuring you are never caught short.
With your bills, if you set up Bpay, you can actually pay extra each pay, so when your bill comes it is not so big. For example, if your bill for electricity is usually $400 a quarter, if you pay $31 a week into your electricity account, when the bill comes it will be paid already. Plus once the money is transferred, you can’t touch it, as it is not your personal banking, you can’t get it back.
I hope these tips help you and I hope you realise the importance of having and sticking to a budget.
The amount of $300 was found without even cutting back on things. If she menu planned, wrote a grocery list and stuck to it, stopped using the dryer and a few other things, she could easily save $500 a fortnight.
It really amazed me how much money people waste without even realising. As a sahm I believe it is my responsibility to try and save money where we can. I am not using it in my challenge, but it does add up. The biggest thing when saving money in one area, say groceries is to actually put that money into savings, not blow it on something else.
A budget can be as hard or easy as you like. Fortunately for me I do not have school age kids, which means things are a lot cheaper for me.
All you really need to do is write out your expenses and your income. Gather all your bills, receipts etc... to see where your money is going. Things that might be listed are
Rent/Mortgage, electricity, gas, petrol, groceries, car maintenance, registration and insurance, house insurance, mobile phone, home phone, internet, presents, school fees, land rates, water bill, make-up/hair products, education (school fees, books etc...), clothing, allowances, medical, misc...
You will need to account for everything, including savings. The only way to get ahead with money is to pay yourself first, then budget with what is left. Most people advise you to save at least 10% of your wage.
With your bills, work out what is quarterly, monthly etc... times everything to make it yearly. E.g monthly phone bill, times by 12, to get an idea of what it costs you a year.
Do this with all your expenses. Next, divide them by your pay days, whether weekly, fortnightly or monthly. This will give you a good idea of how much things cost you each pay. You should be able to see if you are in credit or debt every pay.
If you are in debt every pay, there is something wrong and you need to look at where you can cut back to ensure you are not spending more than you are earning.
If you have any debts, these will need to be listed. Once they are paid, don’t waste the money you were using to pay them off, instead save it.
Be reasonable when doing a budget. Don’t try to save every single cent, as it just wont work. Allow some money for yourself every pay, to spend on whatever you like. This helps you to not feel deprived and you can still get your “luxuries”.
The hardest thing about any budget is sticking to it. One way some people use to help them stick to it is a money tree. It is an envelope system where for each thing in the budget an envelope is allocated. For example, $200 for groceries is placed in the groceries envelope. Once the money is gone, it’s gone. No using the card. You have to make do with the money you have. Leave the cards at home.
Another alternative is a similar idea but with separate accounts. Some banks allow you to have a few accounts without incurring extra fees. Some people label these accounts “bills”, “school fee’s” etc... So each pay an allocated amount is transferred to cover these expenses, ensuring you are never caught short.
With your bills, if you set up Bpay, you can actually pay extra each pay, so when your bill comes it is not so big. For example, if your bill for electricity is usually $400 a quarter, if you pay $31 a week into your electricity account, when the bill comes it will be paid already. Plus once the money is transferred, you can’t touch it, as it is not your personal banking, you can’t get it back.
I hope these tips help you and I hope you realise the importance of having and sticking to a budget.
Wednesday, November 25, 2009
Coin collecting
Many old people have collected coins. They have pennies, florins, half pennies etc... If you happen to inherit any, do not throw them away without checking their value. Some can be worth a lot.
They are worth more if they are uncirculated, but they can still be worth a lot if they are rare.
It is worth reading up on coins. A 1930 penny is worth around $30,000. A 1927 Old Parliament House Florin is fetching $52,000 at the moment.
Coins are things that are often found when cleaning out grandparents homes but they are often discarded. I know of someone who found one of the florins in a pile of “junk”. Wouldn’t we all love $52,000?
One of my friends fathers used to collect coins. He checked old car bodies, old style homes etc... Some of the coins are so rare, it’s hard to find any information on them online.
Coins are like anything though. You need to know a lot about them. Uncirculated are best and not all pennies are worth as much as the 1930 one, but most I looked up were worth at least $20. (I was checking coin values the other night, not that I have any of worth.)
I find it interesting how often grandparents “treasures” are viewed as junk, whereas if they were looked at closely, many items might indeed be treasures.
They are worth more if they are uncirculated, but they can still be worth a lot if they are rare.
It is worth reading up on coins. A 1930 penny is worth around $30,000. A 1927 Old Parliament House Florin is fetching $52,000 at the moment.
Coins are things that are often found when cleaning out grandparents homes but they are often discarded. I know of someone who found one of the florins in a pile of “junk”. Wouldn’t we all love $52,000?
One of my friends fathers used to collect coins. He checked old car bodies, old style homes etc... Some of the coins are so rare, it’s hard to find any information on them online.
Coins are like anything though. You need to know a lot about them. Uncirculated are best and not all pennies are worth as much as the 1930 one, but most I looked up were worth at least $20. (I was checking coin values the other night, not that I have any of worth.)
I find it interesting how often grandparents “treasures” are viewed as junk, whereas if they were looked at closely, many items might indeed be treasures.
Sunday, November 22, 2009
I hit over $1000
My new tally is $1100! Woohoo, I broke the $1000 mark. I sold some hair products cheaper than RRP. I did some haircuts and a colour and I have one thing finishing on eBay tonight, although that is actually my brothers, but I get a small percentage.
I have so many ideas, yet so little time it seems. I was planning on doing the 3 Saturdays before Christmas at the markets, but now it seems I will only be able to do 2, as we will have to go to Sydney before Christmas as well.
I am amazed at the directions I could take with growing a hairdressing business. I never thought there were so many options out there for me to take.
It has been a bit hard trying to do much, with my daughters going through a phase and my husband’s impossible shifts, but it looks like that might all be changing. My husband is cutting back at work and not going to do overtime anymore. He has said this before, so I am waiting to see if it actually happens. He didn’t do any last fortnight, so fingers crossed it sticks this time.
Him not doing overtime gives me the opportunity to work on things I would like. I am hoping this sticks, because he has been working 120 every fortnight, alternating between night and day shifts, making everything else very hard.
I have so many ideas, yet so little time it seems. I was planning on doing the 3 Saturdays before Christmas at the markets, but now it seems I will only be able to do 2, as we will have to go to Sydney before Christmas as well.
I am amazed at the directions I could take with growing a hairdressing business. I never thought there were so many options out there for me to take.
It has been a bit hard trying to do much, with my daughters going through a phase and my husband’s impossible shifts, but it looks like that might all be changing. My husband is cutting back at work and not going to do overtime anymore. He has said this before, so I am waiting to see if it actually happens. He didn’t do any last fortnight, so fingers crossed it sticks this time.
Him not doing overtime gives me the opportunity to work on things I would like. I am hoping this sticks, because he has been working 120 every fortnight, alternating between night and day shifts, making everything else very hard.
Using our little qualifications
This week I discovered I have a qualification not many hairdressers here have. When I got it almost 4 years ago, I didn’t think it was anything special, as a lot of hairdressers where I was living had it.
It was easy enough to get. It only took 1 day, then a few practice goes in the salon. Brilliant thing is it costs upwards of $700 for short hair. Now I know that I am one of a handful of people that can do it here I was thinking I could do it. It costs a bit to set up, but if I picked up some good clients and was able to do even 1 a week, it would be so incredibly worth it.
I had it all planned out, by my daughter has been very unsettled this week, and I think I may have to hold off on this idea.
It got me thinking though, how many of us have little qualifications that we might not think much of, but that are actually quite useful or rare?
Or are there qualifications you could get to make you stand out if you are working, that will give you an edge? It is not always getting a uni degree that will get you a promotion.
Where I used to live and work it was very common for hairdressers to do extra courses to keep on top of it all. It doesn’t seem to be the case as much here. I know there was more opportunity for it where I used to be, but there are still courses run by the colour companies here etc... Most of these courses only take a day or so too, since you are already qualified, this is just expanding what you know.
If I do decide to start using my little qualification, I’ll let you know.
It was easy enough to get. It only took 1 day, then a few practice goes in the salon. Brilliant thing is it costs upwards of $700 for short hair. Now I know that I am one of a handful of people that can do it here I was thinking I could do it. It costs a bit to set up, but if I picked up some good clients and was able to do even 1 a week, it would be so incredibly worth it.
I had it all planned out, by my daughter has been very unsettled this week, and I think I may have to hold off on this idea.
It got me thinking though, how many of us have little qualifications that we might not think much of, but that are actually quite useful or rare?
Or are there qualifications you could get to make you stand out if you are working, that will give you an edge? It is not always getting a uni degree that will get you a promotion.
Where I used to live and work it was very common for hairdressers to do extra courses to keep on top of it all. It doesn’t seem to be the case as much here. I know there was more opportunity for it where I used to be, but there are still courses run by the colour companies here etc... Most of these courses only take a day or so too, since you are already qualified, this is just expanding what you know.
If I do decide to start using my little qualification, I’ll let you know.
Monday, November 16, 2009
Tally for November 16th
I figure I should update my tally. My hairdressing has started to pick up a little, though I have been flat out with other things, it seems hard to fit it in sometimes.
My current total is $850. Still a long way to go, but I am definitely getting there.
I was considering holding a stall at our local show this week, but it was going to cost a bit much in my opinion and I don’t really want to fork out money to stand around all day and possibly only make $10. I am sure there are better things I could do with my time and money.
I have photographed things to list on eBay tomorrow and will also be listing on madeit tomorrow. I have never used madeit, so it will be interesting. I like that it is an Australian site though.
I also realised that our car needs to be serviced soon, which means a trip to Sydney. Yes, I could use a mechanic here, but we have not found one we like and our mechanic in Syd is fandamntastic. This means I will be able to sell some things from my place up there. I have a piano and other bits and pieces I will be able to list before we go or collect to list later.
Here’s hoping I do well before Christmas!
My current total is $850. Still a long way to go, but I am definitely getting there.
I was considering holding a stall at our local show this week, but it was going to cost a bit much in my opinion and I don’t really want to fork out money to stand around all day and possibly only make $10. I am sure there are better things I could do with my time and money.
I have photographed things to list on eBay tomorrow and will also be listing on madeit tomorrow. I have never used madeit, so it will be interesting. I like that it is an Australian site though.
I also realised that our car needs to be serviced soon, which means a trip to Sydney. Yes, I could use a mechanic here, but we have not found one we like and our mechanic in Syd is fandamntastic. This means I will be able to sell some things from my place up there. I have a piano and other bits and pieces I will be able to list before we go or collect to list later.
Here’s hoping I do well before Christmas!
10 tips for selling at the markets
Going to the markets for me was an interesting experience. I realised after that although I knew a fair bit about it, it can be a little daunting for those who haven't done it before, so here's a few tips to help you out.
1.) It can take a few weeks for people to know that you are there and spread the word, so you might not get great sales at first.
2.) Be friendly. Make eye contact, smile and talk to as many people as you can. If they are talking to you, they will go slower and look at what you have for longer. Thus greater chance of sales.
3.) Have something unique. There tends to be a lot of second hand books, clothes etc... at markets. Look to sell something that isn’t there.
4.) Have a chair. It is a long day; you will need somewhere to sit.
5.) Make your stall as user friendly as possible. Don’t have everything too close and looking cluttered. Keep it neat and clean. People like to be able to pick things up and handle them. You don’t want them thinking if they pick something up, other things will fall.
6.) Use all the space you have. Often there is space to hang things up behind you, so it doesn’t all have to be squished onto the one table.
7.) Have food and drink with you. Sometimes you might be too busy to leave your stall, other times, you might not feel you can trust the stall holders near you to look after your stall. (Though in general I have been able to.)
8.) Be inside if you can. Some markets have indoor spots and outdoor spots. The best spots are indoors, because you are protected from any weather and people tend to gravitate towards there. If you can’t get inside, get near an entrance.
9.) If it is an outdoor market, take something for shade or it can get too hot.
10.) Pack paracetamol, sun cream and anti bacterial cream. You’ll probably need them all.
1.) It can take a few weeks for people to know that you are there and spread the word, so you might not get great sales at first.
2.) Be friendly. Make eye contact, smile and talk to as many people as you can. If they are talking to you, they will go slower and look at what you have for longer. Thus greater chance of sales.
3.) Have something unique. There tends to be a lot of second hand books, clothes etc... at markets. Look to sell something that isn’t there.
4.) Have a chair. It is a long day; you will need somewhere to sit.
5.) Make your stall as user friendly as possible. Don’t have everything too close and looking cluttered. Keep it neat and clean. People like to be able to pick things up and handle them. You don’t want them thinking if they pick something up, other things will fall.
6.) Use all the space you have. Often there is space to hang things up behind you, so it doesn’t all have to be squished onto the one table.
7.) Have food and drink with you. Sometimes you might be too busy to leave your stall, other times, you might not feel you can trust the stall holders near you to look after your stall. (Though in general I have been able to.)
8.) Be inside if you can. Some markets have indoor spots and outdoor spots. The best spots are indoors, because you are protected from any weather and people tend to gravitate towards there. If you can’t get inside, get near an entrance.
9.) If it is an outdoor market, take something for shade or it can get too hot.
10.) Pack paracetamol, sun cream and anti bacterial cream. You’ll probably need them all.
Sunday, November 15, 2009
Finally got to the markets
I finally got to the markets yesterday and have to say it truly felt like a waste of time. It cost $32, which I split with my sister, but I only sold a few things. It was hot, hardly busy at all and was not like last time I went there.
The other stall holders said it takes a few weeks for people to realize your there, which I understand, but they weren’t really selling anything either. It really made me wonder why these people go every week and spend all day there earning maybe $50.
I did these markets with my sister in law last year and she did REALLY well. She had a unique stall. Her fathers business had closed, he was a jeweller for many years, and she was selling off his cheaper jewellery and giftware. The same stallholders were there then and some of them did not make any sales in the weeks we were there.
If you have something different, I am sure it would be good. Close to Christmas, like the few weeks before are generally busy at markets, and I am booked in then, but will be trying a different product.
I am considering doing discount salon products at a local show next week. I have to work it out and plan it more, but being a more unique product and something people use, I think it will go better.
The other stall holders said it takes a few weeks for people to realize your there, which I understand, but they weren’t really selling anything either. It really made me wonder why these people go every week and spend all day there earning maybe $50.
I did these markets with my sister in law last year and she did REALLY well. She had a unique stall. Her fathers business had closed, he was a jeweller for many years, and she was selling off his cheaper jewellery and giftware. The same stallholders were there then and some of them did not make any sales in the weeks we were there.
If you have something different, I am sure it would be good. Close to Christmas, like the few weeks before are generally busy at markets, and I am booked in then, but will be trying a different product.
I am considering doing discount salon products at a local show next week. I have to work it out and plan it more, but being a more unique product and something people use, I think it will go better.
Thursday, November 12, 2009
Selling online doesn't just mean eBay.
EBay does have the monopoly when it comes to selling online, but there are so many more sites out there. As many of you know from recent posts I have had ALOT of trouble trying to get to a market to sell my things. I am going this Saturday, finally, but I had it suggested to me, funnily enough about 2 hours after it also dawned on me that there are places online for hand made things.
I have not yet tried these sites, but these are the ones I have heard of and had suggested to me. I will be trying most of them, and for those I have I will tell you my opinion. It is only my opinion though; others may have had different experiences.
www.oztion.com.au is an Australian version of eBay. I have found when selling on there I do not get as high a price and it can take longer, but it’s fee’s are much cheaper and you don’t pay to relist like eBay, so for smaller items, it can be so much better.
www.etsy.com is an American site for handmade items and fabrics etc... Anyone can buy and sell on there. I have not yet, but will be.
www.madeit.com.au is an Australian version of Etsy. I will be giving this one a go soon too.
www.gumtree.com.au is another Australian online classifieds website. I have heard good things, so will be trying it.
www.tradingpost.com.au is good for those bigger things like furniture etc... Which reminds me, I have “big” things I could sell on here. They aren’t at my place here, they are in Sydney, so will have to arrange that sometime.
Most places have their own classifieds online, not just in newspapers as well. Even though most of these sites are not as well known as eBay, they are becoming more popular and the more people use them, the better prices for sellers will be.
I have a range of things to list in the coming weeks, so I will update you soon.
I have not yet tried these sites, but these are the ones I have heard of and had suggested to me. I will be trying most of them, and for those I have I will tell you my opinion. It is only my opinion though; others may have had different experiences.
www.oztion.com.au is an Australian version of eBay. I have found when selling on there I do not get as high a price and it can take longer, but it’s fee’s are much cheaper and you don’t pay to relist like eBay, so for smaller items, it can be so much better.
www.etsy.com is an American site for handmade items and fabrics etc... Anyone can buy and sell on there. I have not yet, but will be.
www.madeit.com.au is an Australian version of Etsy. I will be giving this one a go soon too.
www.gumtree.com.au is another Australian online classifieds website. I have heard good things, so will be trying it.
www.tradingpost.com.au is good for those bigger things like furniture etc... Which reminds me, I have “big” things I could sell on here. They aren’t at my place here, they are in Sydney, so will have to arrange that sometime.
Most places have their own classifieds online, not just in newspapers as well. Even though most of these sites are not as well known as eBay, they are becoming more popular and the more people use them, the better prices for sellers will be.
I have a range of things to list in the coming weeks, so I will update you soon.
Book set backs
My book has taken a rather substantial set back. It was going to be out by Christmas but the publisher I was going to go with butchered my manuscript with spelling spacing errors, inconsistent lay out and more. It was just awful. I got a refund and will be going elsewhere.
On a brighter note, since I got a refund I now have $600! Much nicer than being in debt on my credit card. I have done more haircuts this week, sold some books and will be doing a market on Saturday, so things are picking up.
I have booked in to sell at more markets closer to Christmas, so I need to pull my finger out and start making things. I’ll post later what goes well and what flops.
On a brighter note, since I got a refund I now have $600! Much nicer than being in debt on my credit card. I have done more haircuts this week, sold some books and will be doing a market on Saturday, so things are picking up.
I have booked in to sell at more markets closer to Christmas, so I need to pull my finger out and start making things. I’ll post later what goes well and what flops.
Friday, November 6, 2009
Starting your own business
When starting a business, there are many things that cost money and the expenses can quickly add up, but if you are careful and go in with a well thought out plan, things needn’t be so expensive. A proper business plan is paramount to a successful business. Even if you do not end up sticking to the plan, you need to have one.
A business plan usually covers an introduction – this is what your business is about, a mission statement and goals for the business, your market research – looks at the industry you are going into and how you fit, marketing plan – how you are going to advertise and get your business out there, operational plan – how you will set up your business; where it will be; regulations/protocol etc... How you will manage your business, financial plan – how are you going to fund it, keep it profitable... And finally an executive summary, which will actually be the front page, but can’t be written until you have actually written your entire plan.
Once you have all this, if you are needing finance, you next step would be an appointment at the bank, for which you will need your business plan.
If you do not need finance, then you will need to look at the following:
1.) Picking and getting a business name. In many places you can trade under your own name at no cost, but it can be complicated. People tend to want to deal with the owner of a business, which means, if you have named it after yourself, once you are up and running it will be harder to step back and delegate. Also, when looking at selling your business, it is easier if it’s not named after you.
2.) Getting an ABN. Australian Business Number. These are free. You apply at www.abr.gov.au
3.) Advertise the business. Let people know. Click here for free advertising ideas.
To get started those are probably the most important things but there are other things to take into consideration.
You need to set business hours. Remember that when you are working for yourself, you also have things to do behind the scenes, all the paper work, quotes, banking etc... outside of work hours. You need to be clear about what times the business will be open, what times you will be doing business paperwork and what time will be for family. You don’t want the business to consume your life.
You also at some stage, either before even starting or soon after, really should talk to an accountant to know what things you can claim on tax, what advantages there are etc... Such as claiming some of your mortgage if you have a home office, petrol, computers etc...
You need to know the legalities of your business inside out and if it is going to be a home business you need to contact your local council and find out what their regulations are.
Get insurance. Research it well, know what different policies include and compare prices to get the best for your buck.
A good idea is to talk to others involved in your work. Some people are more than happy to help mentor, others are not. Either way you will need to talk to them to do market research so you can be competitive. When checking for prices, pretend to be a customer though, you get more information that way.
I hope this helps you in knowing a bit more about what is involved in starting, and that it doesn’t need to be scary.
A business plan usually covers an introduction – this is what your business is about, a mission statement and goals for the business, your market research – looks at the industry you are going into and how you fit, marketing plan – how you are going to advertise and get your business out there, operational plan – how you will set up your business; where it will be; regulations/protocol etc... How you will manage your business, financial plan – how are you going to fund it, keep it profitable... And finally an executive summary, which will actually be the front page, but can’t be written until you have actually written your entire plan.
Once you have all this, if you are needing finance, you next step would be an appointment at the bank, for which you will need your business plan.
If you do not need finance, then you will need to look at the following:
1.) Picking and getting a business name. In many places you can trade under your own name at no cost, but it can be complicated. People tend to want to deal with the owner of a business, which means, if you have named it after yourself, once you are up and running it will be harder to step back and delegate. Also, when looking at selling your business, it is easier if it’s not named after you.
2.) Getting an ABN. Australian Business Number. These are free. You apply at www.abr.gov.au
3.) Advertise the business. Let people know. Click here for free advertising ideas.
To get started those are probably the most important things but there are other things to take into consideration.
You need to set business hours. Remember that when you are working for yourself, you also have things to do behind the scenes, all the paper work, quotes, banking etc... outside of work hours. You need to be clear about what times the business will be open, what times you will be doing business paperwork and what time will be for family. You don’t want the business to consume your life.
You also at some stage, either before even starting or soon after, really should talk to an accountant to know what things you can claim on tax, what advantages there are etc... Such as claiming some of your mortgage if you have a home office, petrol, computers etc...
You need to know the legalities of your business inside out and if it is going to be a home business you need to contact your local council and find out what their regulations are.
Get insurance. Research it well, know what different policies include and compare prices to get the best for your buck.
A good idea is to talk to others involved in your work. Some people are more than happy to help mentor, others are not. Either way you will need to talk to them to do market research so you can be competitive. When checking for prices, pretend to be a customer though, you get more information that way.
I hope this helps you in knowing a bit more about what is involved in starting, and that it doesn’t need to be scary.
Frustrations
Since I paid for the publishing this week I am now in debt by $1,500. Not good when you are aiming to be a millionaire in the next 5 years... But on the upside, my book will be out soon, I have bought 2 websites, now just have to build them and I know I will have the money before it needs to be paid off my credit card, so I figure everything is still going ok.
I have made a few aprons and despite being unable to go to the markets this week, due to forgetting about an excursion for my daughters, I am trying desperately to get there next week.
I have been finding my husband’s work very frustrating as it has been severely limiting what I can do. With his shifts being all over the place and constantly changing, it’s hard to even organise a sitter for my children to enable me to do anything. Whilst I know some people do not have husbands to “rely on” (I am using that term VERY loosely!) I don’t know if it would be harder to have no one or have someone who makes it near impossible for you to do anything.
Don’t get me wrong, I love my husband, it’s his work that is irritating me. I guess it is a sign that markets and such are not what I will be able to do really. I am ok with that as my main aim is my websites and book.
I bounced a lot of ideas around with my sister in law for one of the websites I want to do. My problem is there are so many things I want to do, I can’t possibly do them all!
I have made a few aprons and despite being unable to go to the markets this week, due to forgetting about an excursion for my daughters, I am trying desperately to get there next week.
I have been finding my husband’s work very frustrating as it has been severely limiting what I can do. With his shifts being all over the place and constantly changing, it’s hard to even organise a sitter for my children to enable me to do anything. Whilst I know some people do not have husbands to “rely on” (I am using that term VERY loosely!) I don’t know if it would be harder to have no one or have someone who makes it near impossible for you to do anything.
Don’t get me wrong, I love my husband, it’s his work that is irritating me. I guess it is a sign that markets and such are not what I will be able to do really. I am ok with that as my main aim is my websites and book.
I bounced a lot of ideas around with my sister in law for one of the websites I want to do. My problem is there are so many things I want to do, I can’t possibly do them all!
Thursday, November 5, 2009
It is at the publishers!
Well, it is done and on its way. My book is completed and with the publisher. The cover design is being arranged, but if all goes well it will be out in December! I am so nervous and excited and just, WOW! I never thought I’d get this far! Now I just hope other people like it! I do have people interested in it already, but I am hoping people other than friends and family buy it too!
Next step is my website. I am hoping with my husband having a few days off next week I will be able to arrange to start it. I was going to today, but he got called into work.
I got the photos from the photographer, so will be able to use them when I set up my site and have used one for the front cover.
I am so nervous, but am so excited to finally be achieving a goal.
One thing, the amount it cost I need to make up, as I have used the 55 day interest free period on my credit card to pay for it. So basically, by Christmas I need to have made another $1,500 just to pay it off. Considering I should be aiming for nearly $4,000 a week to be able to achieve my goal this should be doable!
Next step is my website. I am hoping with my husband having a few days off next week I will be able to arrange to start it. I was going to today, but he got called into work.
I got the photos from the photographer, so will be able to use them when I set up my site and have used one for the front cover.
I am so nervous, but am so excited to finally be achieving a goal.
One thing, the amount it cost I need to make up, as I have used the 55 day interest free period on my credit card to pay for it. So basically, by Christmas I need to have made another $1,500 just to pay it off. Considering I should be aiming for nearly $4,000 a week to be able to achieve my goal this should be doable!
Tuesday, November 3, 2009
Monday, November 2, 2009
The Duggars
Has anyone read this book? The Duggars: 20 and Counting!: Raising One of America's Largest Families--How They Do It I got it a little while ago and love it.
It goes through everything they did in the early days, the smart investments that set them up for later in life, as well as the investments that did not fare so well. One thing they do is never go into debt and that includes mortgages. I think this is a wonderful idea, although I do not think I have the patience to carry it through.
By sticking to their guns they managed to buy a property worth a million dollars for under $400,000 because that was how much they had.
It did make me think about how if we saved more and spent less, we would eventually have enough for a home, but also that the opportunities you have when you have cash is so much better.
In the book they also discuss the techniques they use for raising their children, recipes, how to be organised and more. But I liked the finances the best.
Paying cash for my first property in this challenge is something I would love to do.
It goes through everything they did in the early days, the smart investments that set them up for later in life, as well as the investments that did not fare so well. One thing they do is never go into debt and that includes mortgages. I think this is a wonderful idea, although I do not think I have the patience to carry it through.
By sticking to their guns they managed to buy a property worth a million dollars for under $400,000 because that was how much they had.
It did make me think about how if we saved more and spent less, we would eventually have enough for a home, but also that the opportunities you have when you have cash is so much better.
In the book they also discuss the techniques they use for raising their children, recipes, how to be organised and more. But I liked the finances the best.
Paying cash for my first property in this challenge is something I would love to do.
The markets are happening!
I arranged a little barter last night. We recently bought powdered milk in bulk only to discover we prefer our old brand and this one doesn’t mix in as well. I contacted a friend who uses it to see if she would like it in exchange for some babysitting, which means this week I get to go the markets! I have some aprons done, but will be making more. I’m trying to decide what else I can make with what I have, as I do not want to spend any money until I see if these things go well.
I have thought of more things I can sell at the markets, but they would be seasonal, so I am going to see how we go this week, then work out more of a plan as to what I will sell and when.
For this week I am thinking of doing...
Aprons, toddler, children and adult
Burp cloths for my sister
Enviro bags, possibly other types of bags
Possibly some modern cloth nappies
It all depends on how much I get done in the next few days.
I have thought of more things I can sell at the markets, but they would be seasonal, so I am going to see how we go this week, then work out more of a plan as to what I will sell and when.
For this week I am thinking of doing...
Aprons, toddler, children and adult
Burp cloths for my sister
Enviro bags, possibly other types of bags
Possibly some modern cloth nappies
It all depends on how much I get done in the next few days.
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